NEW YORK--(BUSINESS WIRE)--The Travelers Companies, Inc. (NYSE: TRV) today announced that Greg Toczydlowski, Executive Vice President, has been promoted to President of Business Insurance, effective immediately.
Toczydlowski most recently served as Executive Vice President and President, Small Commercial, Business Insurance Technology and Operations. Since joining Travelers in 1990, he has held numerous positions in systems, finance, underwriting, product, marketing and business development. He previously served as President of Personal Insurance.
“Greg is a proven and strategic leader,” said Alan Schnitzer, Chief Executive Officer of Travelers. “His breadth of experience, judgment and track record of successful execution make him uniquely qualified to lead our largest business and build upon its existing leadership position in the marketplace.”
Travelers also announced the retirement of Doreen Spadorcia, Vice Chairman, Technology, Claim Services, Operations and Risk Control, and Chief Executive Officer of Personal Insurance and Bond & Specialty Insurance, after 30 years of service, effective September 1. She also has oversight of Analytics, Customer Experience, Marketing, eBusiness and Special Liability Group.
Since joining the company, Spadorcia has led several businesses and initiatives that have helped differentiate Travelers. She has been a member of the Management Committee since 2005, when she was appointed to lead Claim Services. Spadorcia spearheaded the creation of Travelers’ state-of-the-art training facility, Claim University, and developed a company-wide catastrophe response model that transformed the way Travelers mobilizes around large-scale disasters. She was named CEO of Personal Insurance in 2009 and CEO of Bond & Specialty Insurance in 2014. She has also served as a director of the Travelers Foundation.
“Doreen is an outstanding leader whose contributions to the company have been profound,” said Schnitzer. “We will miss Doreen both as a colleague and as a friend. Her intelligence, judgment and tireless dedication have helped make our company what it is today, and she leaves a legacy that will enable Travelers to continue to compete successfully for years to come. We wish her well as she enjoys a new chapter of her life after a stellar career.”
The Travelers Companies, Inc. (NYSE: TRV) is a leading provider of property casualty insurance for auto, home and business. A component of the Dow Jones Industrial Average, Travelers has approximately 30,000 employees and generated revenues of approximately $27 billion in 2015. For more information, visit www.travelers.com.
All statements in this press release, other than statements of historical facts, are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results of matters addressed in these forward-looking statements involve risks and uncertainties and may differ substantially from those expressed or implied. Some of the factors that could cause actual results to differ are discussed under the heading “Risk Factors” in the company’s most recent Form 10-K and Form 10-Q. The forward-looking statements in this release speak only as of the date of this release, and we undertake no obligation to update any forward-looking statements.